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    Forecasting

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    Forecasting is not to clear to me, how do I get started?
    Given the following data on hotel check-ins for a 6-month period:

    Month Number of rooms
    July 70
    August 105
    September 90
    October 120
    November 110
    December 115

    a. What is the 3-month moving average for January?

    b. What is the 5-month moving average for January?

    9. Recent actual and forecasted data for product XYZ is given in the following table.

    Month Actual Demand 3-month Forecasted Demand
    May 35 25
    June 31 30
    July 48 33
    August 41 38

    Determine the MSE, MAD, cumulative error and average error.

    10. The following table summarizes data between money spent on gambling and winnings for Robert.

    Money Spent Money Won
    x y
    12 62
    10 54
    16 86
    18 100
    15 80
    10 57
    5 26
    12 60
    22 105
    25 140

    Develop a linear regression equation for these data and forecast how much money Robert will win if he spends $30.

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    Solution Summary

    The solution contains several forecasting problems using moving average method and regression analysis.

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